abrdn to merge GARS into diversified asset funds

Following strategic review

abrdn’s Global Absolute Return Strategies fund will stop operating as a standalone vehicle and be merged into the company’s diversified asset funds.

Following a strategic review led by Russell Barlow, who has been promoted to head of multi-asset and alternative investment solutions, the fund manager has decided to create a simplified multi-asset solution franchise. abrdn Smaller Companies Income trust to merge with Shires Income GARS is one of three strategies affected by the review, as the two other liability aware absolute return funds will be closed later this year, abrdn explained. GARS was launched in 2008 under the Standard Life Investments umbrella and at its peak in May 2016 held £26.8bn in assets. But AUM has significa...